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Financial_Overview4

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					                             Town of Dewey Beach
                        General Fund Financial Overview
                             For the Month of July, 2011




Operating Revenues

Actual revenues of $ 800,778 for July 2011 were greater than budgeted revenues of 326,835 by
$ 473,943. The most significant revenue variances occurred in: Building Permit Fees
$ 384,000, Transfer Taxes $ 58,244, Business Licenses $ 9,960, and Parking Permits $ 19,312.
The $ 384,000 increase in Building Permit Fees represents a building permit fee received from
Dewey Beach Enterprises in the amount of $ 480,000 less 20% allocated to the Street Repairs
Account.

Operating Expenditures

Actual expenditures for July 2011 of $ 714,364 exceeded budgeted expenditures of $ 320,879
by $ 393,485.51.

The most significant expenditure (recorded in the month of July 2011) was $ 410,476.24 for the
Bayard Avenue Project. It represents Bayard Avenue Project expenditures from the Street
Repairs Account and the General Fund Account for the period April 1, 2011 through July 31,
2011. In addition, $ 150,000 of Bayard Avenue Project costs were paid on May 25, 2011 from
the Restricted Equity Account. Also, $ 200,000 of Bayard Avenue project expenditures were
recorded in the prior year. Thus, $ 760,476.24 has been spent to date through July 31, 2011 on
current contracts for construction and technical services applicable to the Bayard Avenue
project.

Total expenditures for July 2011 in the Administrative Department were under budget by
$ 4,783. The most significant over-expenditure was in Legal Fees-Regular $ 11,830.

Total expenditures for July 2011 in the Police Department were under budget by $ 5,903.

Total expenditures for July 2011 in the Streets & Highways Department were under budgeted
expenditures by $ 2,215.

Total expenditures for July 2011 in the Alderman’s Court were under budgeted expenditures by
$ 3,129.


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Financial Overview (Continued)

Total expenditures for July 2011 in the Lifeguards Department were under budgeted
expenditures by $ 7,026.

Total expenditures for July 2011 in Code Enforcement were under budgeted expenditures by
$ 646.

Total expenditures for June 2011 in the Life Saving Station were under budgeted expenditures
by $ 120.

Seasonal Police expenditures were over budgeted expenditures by $ 6,831.



Conclusion
The overall financial results for July show that revenues exceeded expenditures by $ 86,413.

Overall, for the four months ended July 31, 2011 actual revenues exceeded expenditures by
$ 317,844. This exceeds budget expectations by $ 138,226.




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